Selective system and apparatus



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oood oo aoooo 00 0000 00 JoOoO 0O OOOOOOOO OOD A icola ATTORNE June 1,1937. R. P. SIMMONS SELECTIVE SYSTEM AND APPARATUS Filed Aug 14, 1930 9Sheets-Sheet 9 INVENT d $5zmm0n6 BY MW ATTORNE Patented June 1, 1937PATENT OFFICE SELECTIVE SYSTEM AND APPARATUS Richard P. Simmons, NewYork, N. Y., assignor to Teletype Corporation, Chicago, 111., acorporation of Delaware Application August 14, 1930, Serial No. 475,239

16 Claims.

This invention relates to selective systems and apparatus especiallyadapted for remote control purposes over telegraphic and like circuits,although applicable to a wide range of other selective control uses. r

More particularly, the present invention has reference to systems andapparatus especially adapted for the automatic distribution and displayof stock, grain and other commodity quota- }o tions, and in itspreferred embodiments utilizes permutation signalling codes ofelectrical conditions for transmitting the desired information tovarious receiving stations over a single control wire, thus utilizingthe basic principles of modern i5 high speed printing telegraphy.

As is well known, systems of buying and selling stocks or commoditieshave arisen wherein most of the sales thereof are concluded at a centralpoint or exchange, such for example, as the 20 New York Stock Exchangeor the Chicago Grain Exchange, while the sales are initiated at many andwidespread smaller centers of trading for these same commodities. It ishighlydesirable in such systems that the various smaller centers be keptin direct and constant touch with the main exchanges in order that thetraders may be kept advised of the price fluctuations at the mainexchanges It is therefore, a general object of this invention to providesystems and apparatus for the high speed automatic posting ofinformation regarding stocks or commodities, such as the price thereof,at a plurality of branch stations or receiving stations over a singlechannel of communication, such as a telegraph, telephone, or radiochannel, my invention in its preferred embodiments, utilizing thepermutation signalling codes now well developed in the printingtelegraph art.

Still another object of this invention is to provide a system making useof the permutation signalling code, and having embodied therein areceiving device in which an o'verlap is provided; that is, the receivedsignals may be setting up the previous quotation on the boardsimultaneous with the reception of a subsequent quotation, so

that operation may be continuous and uninterrupted, thus insuringrapidity and speed of operation.

A further object of the present invention is to 50 provide a receivingapparatus for use with a system for stock quotations whereineachcommodity, such as stock, has a set of indicators therefor upon which areasonable range of prices as well as the current quotations are at alltimes visible, whereby an observer may at a glance see the open,current, high, low and other vital quotations.

Another object of this invention is to provide a market quotationmechanism of the above indicated character with means for automatically5 changing the various types of information regarding the commodities,the indicating mechanisms being so coordinated that one or more of thevital quotations will be changed when the received signals are of suchnature as to require 10 a multiple change on the indicators. Forexample, in a stock quotation board, wherein each stock has a high, low,opening and last price quotation, when a "high, low" or "opening"quotation comes in, the "las indicia is au-, 5

tomatically changed by the present invention.

Still another object of this invention is the provision of a marketquotation board comprising a large proportion of substantialmechanically operated elements and in which the electrical parts areminimized, thus resulting in a device which is rugged and reliable, withconsequent low cost of maintenance.

Another object of the present invention is the provision of novelquotation board mechanism, wherein the indicating or displaying unit maybe readily re-arranged in order to adapt the board to widely differentdisplays without materially changing the mechanism involved. Forexample, some of the receiving stations or brokers may 30 have a boardadapted to display quotations for two hundred stocks, whereas possiblyseveral thousand stocks may be quoted over the system by the centralstation. The improved receiver mechanism of the present invention is soar-v 35 ranged that the operator of a small board may readily and simplychange his mechanism to receive quotations of any of the stocks beingquoted by the central transmitting station.

Still another object-of the invention is the 40 provision of a systemand apparatus as above described wherein the message may be temporarilylengthened for the reception of special information without altering thereceiving devices connected thereto.

A further object of thepresent invention is the provision of noveltransmittingv and receiving mechanisms useful independently of therelations hereinafter disclosed in various selective and remote controloperations in a manner that will be apparent to those skilled in theart.

This application is an improvement upon my application Quotation boards,Ser. No. 721,959, filed June 23, 1924.

These and other objects will be apparent'from the following descriptionand appended claims when taken in conjunction with the accompanyingdrawings wherein:

Figure 1 is a diagram. of the circuit, including a preferred embodimentof receiving selector in partial detail;

Figure 2 is a perspective representation of the stock selector;

Figure 3 is a right side elevation view of the stock selector of Figure2;

Figure 4 is a fragmentary detail sectional view of a selecting feelerand a letter bar;

Figure 5 is a perspective detail of a stock bar dog; Figure 6 is adetail of the preferred letter bar and its associated dogs; Figure 7 isa perspective detail of a latch associated with the preferred feeler;Figure 8 is a front elevation of the stock selector;

Figure 9 is a plan view of the stock selector. Figure 10 is a rearelevation of the stock selector.

Figure 11 is a sectional detail of the jaw clutch of the stock selector;taken on line ll-ll of Figure 9. I

Figure 12 is a perspective detail of the crown cam of Figure 11;

Figure 13 is a perspective representation of the 3 board operatingmechanism;

Figure 14 is a partial plan view of the mechanism shown in Figure 13;

Figure 15 is a fragmentary elevation of some of the mechanism of aportion of Figure 13. Figure 16 is a right side elevation of themechanism of Figure 13;

Figure 17 is a rear elevation partially in section of the mechanism ofFigure -13; Figure 18 is a perspective of a dial-set;- Figure 19 is aplan view of the mechanism of Figure 18;

Figure 20 is a section on the line 20-20 of Figure 19; J

Figure 21 is a rear elevationview of the mechav nism of Figure 18;

' automatic posting of prices of stocks or other items makes use of thetransmitting and receiving apparatus used in the start-stop printingtelegraph system. Such devices are wellknown and in large commercialuse. Systems of this nature operate through the medium of a signallingcode usually composed of five units, wherein eachcharacter codecomprises a start impulse, five code impulses of various permutations oftwo current conditions, and a stop impulse. With two differentelectrical conditions, 32, different code combinations or characters arepossible, but in printing telegraphy it is customary to use a shift andunshift code to determine the figures and letters. respectively, and toprovide a shift mechanism, as in a typewriter,

in the receiving printer whereby the proper let- ,ter or figure will beprinted. With the assist ance of a shift mechanism a larger number ofcharacters may be'printed.

In the present device a letter and figure shiftis provided, to determinewhether the incoming signals control an item selector or the priceindicating units.

If the ordinary printing telegraph receiver, as adapted to the presentinvention, were used as an item selector only a very small number ofsuch items could be selected because of the mechanical limitations ofthe receiver. For this reason an additional device, called a stockselector, is introduced, which is merely a translator, respon-.- sive tocombinations of letters, representing stock symbols. Within the stockselector these letter combinations control a mechanism which makes itpossible to select a very large number of items by suitable permutationsof letter groups of three letters each. This is accomplished by storingthe three received letters, and at a certain instant resolving thesetting of these three letters into a switching function which selectsthe item to be quoted.

Following the stock or item selection the system is automaticallyswitched or shifted to the figures selection condition, and thesubsequently received price is set up on a set of indicator dials fordisplay upon the quotation board.

This improved device is concerned mainly with the receiving orindicating terminal station, but in order to show the origin of the codepermutations of electrical impulses which become effective to operatethe board the origination of such signals will be briefly described.

Two well known methods are available for this purpose; direct keyboardpropagation, or the use of a perforated tape as a storage medium betweenthe keyboard and the transmitter. A transmitting keyboard for the directpropagation of electrical signals for this purpose is fully disclosed inU. S. Letters Patent #1,595,472 granted August 10, 1926 to H. L. Krum.In lieu of a keyboard transmitter as therein disclosed a tapeperforating keyboard of any type well known in the art may be utilized,and the tape produced thereby fed through a tape transmitter also of anywell known type. Whatever transmission means may be adopted start-stopcode permutations of signalling impulses are propagated over a singleline wire to operate a receiving device as disclosed in Letters Patent#l,567,392 granted December 29, 1925, to E. E. Kleinschmidt.

The present invention consists mainly of three parts:

(1) A receiving device which is a modification of the receiver shown anddescribed by E. E. Kleinschmidt in the patent just mentioned.

(2) A stock selector which chooses the particular group of stock unitdial-sets on the board which it is desired to operate to show quotationsfor that stock. A

(3) A stock board with its groups of numeral dial-sets and mechanism tooperate the same.

Description of the receiving selector shown in Fig. 1 the signalsoriginating at tape transmitter 2 are propagated over line wire 3 toactuate receiver magnet 4. Pin barrel 5 is rotated on the start-stopprinciple and cooperating with armature 6 of receiver magnet 4 setslatches 1 in operative or non-operative pos tion in accordsetting, beingoperated for each character received. Up to this.point the operation ofthe receiver is just as described in the patent referred It will benoted that the receiver of Eatent #1567392 provides an overlap wherebyone complete set of signals'is setup and operates the selected bar 9simultaneously with the reception of a succeeding code combination. Thisis an important feature which is especially utilized in the presentinvention since the stock selector mechanism about to be described maybeoperating in response to the first selected bar 9 while a new codecombination is being received and stored in the Kieinschmidt receiverfor operating a succeeding bar. Although the receiver of Patent #1567392is adapted for use with this invention,

2 it will be understood that any other type of receiver may be. usedhaving embodied therein the 7 overlap or momentary storing of signalswhile the preceding code combination is operating the mechanism. P

In order to adapt this receiver to the purpose 'of this invention thereis added a row of pairs of contacts I2 disposed toward the front of thereceiver, one pair of said contacts l2 being individual to each pull bar9 and arranged so that pull bar 9. Hence it is clear that upon therecep- -'-tion of any code combination of impulses one pair of thesecontacts will be closed,. the purpose of this operation appearinghereinafter;

Construction of the stock selector ningfront and rear frames i3 and I4and affixed thereto at the extreme left and right are cross:

members l6 and I1, one only of which is shown in Figure 3. Afilxed tocross members It; and H are two right angled brackets i8 which in'turnsupport in a vertical 'plane magnet mounting plate l9. Fasten'ed toplate l9 and distributed thereupon in a specific spaced relationship.are selecting magnets 22, twenty-seven in number, and which may bereferred to for convenience respectively as zero, A, B, C. D, Z. Pivotedupon yoke 23 of .each selecting magnet 22 is ar- -rnature 24, slotted atthe end opposite the pivot? Appropriately pivoted within the slottedportion normally disposed in a position slightly inclined each is closedupon-the operation of its individual 4 l4 supported vertically by baseplate i5.- Spanof each armature 24 is a-'selecting feeler 25,-

from the vertical. Feelers 25 are each of prede:

'termined lengthto align their lower ends and are provided with a shortinclined edge 21 as shown in detail in Fig. 4, and the opposite edge isI slightly arcuate as 'shown'at 28-,- the purpose of which is to allowthe feelers to be. engaged with igueir letter bars, as will hereinafterappear more y. Comb 26 is slidably mounted upon two shoulder screws 29carried by the front end of the cross bars l6 and I1, slots 32 in eachend of the comb 26 limiting longitudinal movements thereof. A

short portion 33 of one edge of comb 26 is pro-' vided with rack gearteeth, and a pinion 34 is in engagement therewith, to move comb 26longitudinally, thus aligning the lower ends of each of the feelers 25,with one of three letter bars associated therewith, as more fullydescribed hereinafter. A spring l9 attached to comb 26 returns it tonormal position when released.

' The feelers 25 are loosely pivoted totheir armatures 24 whereby theymay tilt or assume a limited angular position when their lower ends aremoved by comb 25.

Supported upon, and insulated from front frame member I3 is a pair ofcontact springs 35 and 36 (Figs. 8 and 9). A contact operating extension31 attached to comb 26 is in operative relation with an insulatingportion of front contact 35; and engages it when comb 26 is in itsextreme left position as viewed in Fig 8.

Adaptedto engage simultaneously all of the small arcuate edges 28 of thelowerextremities of feelers 25 is universal ball 38 (Figs. 2, 4, and 8),which is a long flat blade suitably supported upon three arms 39 clampedto bail shaft 42, the latter being pivotally carried on brackets 4|aiiixed to the front frame l3 of the selector. A fourth arm 44 (Fig. 3)also clamped to bail shaft 42 extends horizontally into the selector andcarries at its extremity a cam follower roller 45 adapted tobe operatedby cam 46 aflixed to cross shaft 41, tension spring 48 constantly urgingarm 44 in a clockwise direction, and thereby maintaining roller 45 incontact wtih cam 46. In-- dividual tension springs 3!, Fig. 4, urgefeelers 25 in a direction such as to hold them in contact wtih ball 38,and other individual tension springs 40 act in a retractile manner uponarmatures 24 and consequently maintain feelers 25 in their upward ornormal position.

Associated with each feeler 25 (except the one individual to the zeromagnet) and in operative relation therewith are three letter bars 43,corresponding to the three letters composing the stock symbol portion ofthe quotation message. In the normal position of the selector, when comb26 is fully to the right-the feelers 25 are in alignment with thatletter bar 43 of each group of three which is at the extreme right. Thefeeler 25 associated with the zeroflmagnet is in operative relation withonly two letter bars 43, there being av space whereat there. would be aright hand'bar in all other groups. Consequently there is a total of 78'plus 2, or of the bars 43.

These latter are notched on both their upper and. lower edges withequally spaced notches 21 all:

.cut in the top edge of front and rear frame members l3 and I4,retaining bars 59 screwed to the frame members l3 and I4 acting to keepthe bars 43 from departing from their slots. .The front extremity ofeach of the bars 43 is provided with an inclined notch. 5| (Fig.4)-corresponding in shape to the inclined portion 21 on the extremity ofthe feelers 25. A shoulder portion 60 is provided near the rear end ofeach letter barv 43 ,which'serves as a backstop. The rear extremity ofeach bar is-provided with an arcuate end 43 is a plurality of stock codebars 62.

48 and a reset bail or blade 49 is adapted to engage the ends 48 of allbars 43. Blade 69 is carried by a reset bail shaft 52 having an armcarrying cam follower roller 54 and a tension spring 53 is provided tohold cam follower roller 64 in engagement with its operating cam 55exactly as for the other bail 36, this second-cam also being fixed tocross shaft 41.

A latch arm, 56, Fig. 2, pivotally carried on rear frame member I6 is'held in latching engagement with the blade 49 by a tension spring (notshown) when blade 49 ,is back in its unoperated position. Latch arm56=bears cam follower roller 51 in operative relation with bail releasecam 58 fixed to shaft 59.

Located transversely with respect toletter bars These latter aredisposed in edgewise vertical position above and below selector bars 43.As many stock bars 62 are supplied as there are stocks on the board withwhich the selector is used, although in practice the stock selectorwould be built in standard sizes containing fixed groups, say 100, 200,300, etc., stock bars 62. As is obvious from the figures, stock bars62'are disposed above and below letter bars 43 in order to minimize thewidth of the selector unit, and correspondingly letter bars 43 have boththeir upper and lower edges notched in duplicate. Slotted combs 63afiixed to cross members I6 and I1 serve .to-ma'intain stock bars 62 inspaced relation.

Referring to Figs. 2 and 8 it will be seen that the stock bars 62 areformed in their flatwise plane substantially into L-shape, the verticallegs of the upper bars extending upwardly and those of the lower barsextending downwardly. Pivotally connected at the bend of the L and alsoat the outer extremity of the short leg are duplicate links 64 whicnarealso thin and flat and pivotally supported at their other end upon rods65. affixed in brackets 66 carried by the frame member 6'! supported onthe base plate I6. Collars (not shown) are provided to maintain thefixed .spacing of the links 64. Links 64 connected to the extremity ofthe short legs are urged downward and upward for the upper and lowerstock bars 62 respectively, by tension springs 66, one

individual to each stock bar 62, the opposite end of each spring 66being attached to'spring plates 69 supported on brackets" carried on theframe member 61. Thus it is obvious that by-"the link suspension justdescribed the. stock bars. 62 are moved parallelogrammatically.

Stock bars 62 are provided at their right end with contacts 13 oneindividual to each bar,

and insulated therefrom for controlling a select- These con-.

ed magnet, one for each stock bar. tacts I3 are arranged to move intoabutting engagement with related individual contacts I4 carried oncontact springs I6 insulated from and suitably mounted on cross bar I3.Fig. 8. In addition each stock bar 621s provided with threeadjustabledogs I6 slidable thereon, seeldetail viewFig. 5, which consistessentially of a suitable uiding body portion provided on the under sidewithinteg'ral lug II. A screw 16 serves to clamp.

"2 into engagement with cam I 69.

i to thus move comb 26 longitudinally.

I4 above shaft 59 (Fig. 10) is shaft I9 which carries resetting bail 82of uniform elliptical oross-- section integral therewith, disposedbetween the upper and lower sets of stock bars 62 (Fig. 2). In itsnormal position the major radius of ball 62 is vertical, therebyspreading the stockselecting bars 62 outwardly against the tension ofsprings.

63. Aflixed to the front end of the bail shaft I9 is the crank arm 83,to the outer end of which is pivoted the connecting link-84. The latteris pivoted at its other end to crank arm 85 afllxed to the front end ofshaft 59 and adapted, during the rotation thereof, to oscillate camshaft I9 from its effective to its nonefiective position.

Arranged to be operated by the end of crank arm 65 is an electric switch66 (Figs. 2 and 8) supported on bracket 81 on the front frame I3. Now,referring to Figure 2, the stock selector is driven by motor 66, speedgoverned and regu- Shaft (Figs. 9 and 10) is also provided with gear'66aflixed thereto which is directly in mesh with gear 91 frictionallycarried upon main shaft .4'I. Through the medium of idler gear 98suitably carried on a stub shaft 99, gear 96 is also in driving relationwithclutch gear I62 friction-g 'ally' carried upon shaft 59.

Gear 91 may drive its associated shaft 41, when the latter is releasedfor rotation, through felt disc friction clutch I63 of a common type.Shaft 47 is provided at its front end with a stop arm I64 (Figs. 2, 8,and 9) in abutting engagement with shaft release armature I65 operatedby release magnet I66, suitably mounted upon front frame I3. ArmatureI66 is pivoted to magnet yoke I 67 and is held in operative engagementwith stop arm I64 when magnet, I66 is deepergized, by retractile springI68.

In addition to the two bail cams 46 and 55 hereinbefore mentioned thereis affixed to shaft 41 a crown cam I69 (Figs. 2, 8, and 9), to operatethe feed of comb 26 and the movement of feelers 26 engaged therewith.Cam I69 is in operative relation with follower roller I I2 carried onone arm of rocker lever II3 pivoted to front frame I3 at II4, a tensionspring (not shown) attached to rocker lever II3 and toframe I3 urgingroller supported at the extremity of right hand ann II6 of rocker leverI I3 is feed pawl I I6, (Fig. 8) provided with ratchet feeding tooth IIIat its forward end and a straight extension I35 for its. opposite end.-Tension spring 3 (Fig. 9) extending between extension I35 and rockerlever I I3 tends to urge feed pawl II6 into engagement with the teeth ofits associated ratchet wheel I22.

Ratchet wheel I 22 is affixed to" the lower end of short vertical shaftI23 suitably journaled in bearing bracket I24 (Fig. 3) carried upon the,front frame I3. Below ratchet wheel I22 and sleeved with'it to shaftI23 is second ratchet wheel I26 acting as a detent wheel. Detent pawl I26 of shape similar to feed pawl H6 is pivotally supported on fixed armI21 and is urged into eng'agement with its associated detent wheel I25by a spring similar to H6 and hasan-extension I33 whereby it may bereleased. -At the upper end of shaft I23 is fixed pinion 34. previouslymentioned, whereby oscillations of lever II3 by crown cam I69 will causerotation of shaft I23 Now returning to bail shaft 62 (Figs.'2 and 9)Pivotally coca-me it will be noted that another arm I23 is clampedthereto, and by means of connecting link I23 is arranged to rock bellcrank leveg I32 pivoted to framework at I33. Bell crank I32 carriesvertical fixed pin I34 disposed in operative relationship withextensions I35 and I36 of feed pawl H6 and detentpawl I26 respectivelyto release them.

Referring to Figs. 9 and 11 it will be seen that gear I02 is providedwith flange I31 formed on one side thereof, and that this flange isprovided with sawlike clutch teeth I38 cuton the rim thereof. ShoulderI39 on shaft 59 and collar I42 aflixed thereto restrain gear I02 fromposition. The circuit being thus arranged, the first letter i axialmovement but permit it to revolve freely.

Adjacent gear I02 is clutch sleeve I43 slidable upon shaft 59 andprovided upon one end with clutch teeth I43 of proper form to engageteeth I38 upon gear I02. The other end of sleeve I43 D is provided withtwo tongues M5 engaging corresponding slots I46 cut in the hub of crowncam I4! 12) the latter being fixed to shaft 59 by an convenient means. Acoiled compression spring M8 is continually urging sleeve it? away fromcam It'll and toward gear I02, tending to engage clutch teeth i138 andltd.

,Pivotally mounted upon stud IE9 (Fig. 9) fixed 'in base plate I5 islever I 52 having a frontward extension. The right extremity W3 0i lever152 is provided with a downwardly offset portion I613 (Fig. 12) carryingfollower roller I543 pivoted thereto, the latter being held in operativeengagement with cam I fi'fl by means of tension spring the attached tolever I52 and to the framework. The frontward extension of lever i52(Fig. 2) carries bell crank lever I5? pivoted thereto at E55. Thismember is provided with a rightward extension terminating in a circularhead I60 which slidably engages'groove I58 in clutch sleeve-i tt-theother extremity of bell'crank Itl' tern'rinatingin an ear-shaped portionI59. The straight edge of bell crank I57 opposite ear 15,9normally-engages the side of pin ISI carried by armature it? of clutchrelease magnet I63, afiixecl to selector base it. Armature I62 ispivoted upon yoke Wt and is provided with retractile spring H65.

4 Operation of stock selector ,ance signal between quotations, to insureunison of the various stations and to synchronize the operation thereofjust as at present the dispatching omce transmits throughout the day tothe common step-by-step stock tickers, several synchronizing impulses ofa definitekind. Hence, to synchronize all stations, transmission is ini,tiated by a letters s hiit" signal, such signal closing its associatedcontact pair I212. (Fig. 1). Thereupon a circuit is completed frompositive of battery ist, over common conductor e32, closed pairoicontacts IZL, conductor 4'55, right coil of double coil relay e21,resistor tilt, to negative of battery.' v r Closing oi the letter shiftcontact 52L will "thus atonce energize the right coil of relay til {toshift the tongue M6 to therig t. An alternat e circuit branchingviromline til continues over lin' flththence through the contacts 453 whichjpen at this time, (shaft 59 being at rest) over lines 485' andjgllw,through the winding at left of the stock to be quoted is transmitted, itbeing remembered that each stock is designated by three letters hencethree sets of signal impulses must be sent for each stock. In someinstances the stock may be designated by only one or two letters, whencethe difference in 'blank signals must be transmitted since the stockselector operates after reception of three code signals. The

' reception of the first letter of the stock to be quoted energizes oneof the selecting magnets 22, for example, the magnet 3" shown in Figure1.

Current then flows from positive of battery 43d, over common conductor432, contact pair I2B, conductor 433, through selector magnet B in thestock selector, said magnet B being one of the series of selectingmagnets 22 of Figs. 2

and 8. Current then passes over common conductor-43 i tol'operate bothmagnet B and relay 628 since negative has already been applied to magnet828 by engagement of armature iid with the L contact by operation of theletters shift" signal, to thus complete the circuit.

The feeler 25, Fig. 2, associated with selector magnet B is thereuponoperated downward upon the attraction of its armature 2t, andsimultaneously tongue 4% of relay 328 closes a circuit from positive,over conductor 636, cell of shaft release magnet I06 to negative. Aspreviously explained, feeler 25' is normally in operative relation withthe first of its three letter bars 53;

Now, when armature I05 of release magnet W3 is attracted it releasesstop arm I05, and shaft (ll being driven through friction clutch we,begins to rotate. Directly after the beginning oi this ro= tation cam 46acts upon roller 65 and arm it fixed on bail shaft 42 allowing bail 38in response to spring 48 to carry ieeler 25 into operative engagementwith its associated first letter bar ts, Fig. 4. Inclined matingportions at and bi serve to lock their appurtenant members togetheruntil the conclusion of this selecting function, not= withstanding thatretractile spring -36 of the armature 24 is tending to return the teeterZiito its upward or initial position. Engaged letter bar 43 is pushedtoward the rear ofthe selector against the fixed stop provided byengagement oi shoulder portion 60 of letter bar 43 with rear framememher it. Simultaneously or slightly earlier. the other universal ball59 is operated in a clockwise sense, as viewed in Fig. 3 by 'roller 5triding up on high portion of cam 55, and is latched in that position bythe latch 6t, clear oi the rear ends or letter bars til. I

When shaft lift" rotates, crown cam its carried" between selector barst3.

coil oi relay ill, through the resistance til to After the shaft 8? hascompleted one revolu= tion the stop arm let re-en'gages the armaturei535, solenoid Hi6 having been de-energized by opening of contacts i2and shaft #11 is stopped until again released. The apparatus is now incondition to receive the second letter or'equivalent of the stocksymbol, the operated letter bar 15 a stock symbol B is transmitted as B,zero,

zero in order that the three letter bars 63 necessary to be set for astock selection may be positioned, as will appear later.

So the first substitute zero is next transmitted and received exactlythe same way as for F3, and the zero feeler is operated to set the righthand zero letter bar '33, (the "zero" feeler, it will be recalled,having only two letter bars d3 associated therewith). As set forth pre-25 viously, movement of .comb '26 to the left has oscillated feelers 25about their pivotal connections to present feelers 25 to theirassociated middle or second letter bars d3, it being remem v bered thateach feeler 25 (except that operated. by the zero magnet) has threeletter bars related thereto. The reason for only two letter bars inconnection with the zero magnet now becomes apparent, for it is nevernecessary to send zero? as a substitute for the first letter of a stocksymbol, only for the second or third letter. Upon the completion of therevolution of main shaft ll, comb 26 is stepped once more a space equalto the distance between the letter bars t3. It is clear that theoperation of any one of the stock selector magnets 22 always releasesconductor 638, closed contacts 35 am'.'36,'conductor 439, clutch tripmagnet 86?, to negative, energizing magnet E63. Upon energization ofmagnet I63 its armature i6? is attracted withdrawing pin i6! frombldcking engagement with arm of bell crank lever 951, Fig. 2.Compression spring M8 thereupon becomes effective to slide sleeve M3upon its shaft 58; Fig. 11, engaging 'its clutch teeth M4 with those I38on driving gear I02, bell crank I51 turning about its pivotal connectionI56 upon arm I52. Consequently gear W2 now drives through sleeve M3,crown 65 cam it? to which it is splined; and also shaft 59 to which camin is amxed.

Cam it'll is so shaped thatit rocks its follower, I52 in a clockwisesense, as viewedin Fig. 9, about its pivot M9. This motion iscommunicated to bell crank E51, and that member being free at itsextreme ear-shaped end I59 now rocks in a counter-clockwise sense aboutits head Hi0 as a fulcrum. Ear I59 has meanwhile maintaineda. positionsuch, that upon de-energization of magnet i63 pin i6! has risen due tothe zero is aoeavas armatures retractile spring and is now preventedfrom further upward motion by engagement with the lower surface of earI59. Upon further rotation of cam i il lever i52 rotates further in itscounter-clockwise direction and car 859 is moved clear of pin lei whichmay now complete its upward travel .and is again ready to I block armlei. Following this and when shaft 59 has completed one-half arevolution, a dropoff portion of the cam allows member i572 urged byspring M5, to return to its normal position. This motion of member i5!causes bell crank 15'! to swing now in acounter-clockwise sense aboutpin M39 as a fulcrum, thereby swinging head I60 in the same direction todisengage clutch teeth E38 and Edit. It will be understood that spring 255 is of strength sufilcient to overcome spring we. Cam it? isdouble-acting, that is, it consists of two similar cam halves, see-Fig.12, the purpose of which is to allow shaft 59 to make one-halfrevolution and then be stopped as explained in detail hereinafter.

Shaft 59 in revolving through one-half a revolution acts throughconnecting link 86 to rock elliptical ball 82 one-quarter of arevolution, the minor radius of the ellipse replacing the major radius.This permits all stock bars '62 to be presented to letter bars d3,springs 88 urging said stock bars 62 in their respective upward anddownward directions. The three operated letter bars B, zero and zerowhich were operated in the example above given, have each presented oneof the notches in their respective edges to a dog it opposite aparticular stock bar 62. If a stock bar 62 has its three dogs it set tocor respond with the notches of the three operated letter bars 513, thatparticular stock bar will move farther than the others in their movementtoward the letter bars 68, the lugs ll of the dogs entering theircorresponding notches. stock bars will find a lug 20 between the notches2i blocking the downward or upward travel of dog lug ill and hence theseremaining stock bars 52 cannot move into full operated position as theselected stock bar 62 has done. Since there are twentysix sets of threeletter bars as, and one set of'two letter bars t3, the total possiblenumber of difierent stocks which may be selected on a device of thiskind is 26x27X27==18,954.

After a stock has been selected, link 85 on shaft 59 holds contacts 630and 631 closed and contacts 4483 open, while simultaneously with theenergization of the clutch magnet let a circuit is closed from positive,contact springs 830 and 631, over conductor see, closed contacts 35 and36, conductor 339, left coil of relay 521, current limiting resistor tii, to negative, to operate tongue 526 to the left or figure shiftposition. Thus it is seen that after the reception and setting up-of thethree stock symbol letters, the shift relay automaticallyoperates toprepare the system for the reception of figures as will soon appearherein.

As described before, the advent of the third position of comb 26presents extension 37 against contact blade 36 which thereupon closeswith its associated contact 35 to complete an energizing circuit forclutch trip magnet I63. Shaft 59 then completes another half revolutionduring which arm 85, having been resting on the insulated portion ofblade 330, recedes therei'roni' allowing the latter to break itsengagement with blade 43! opening the last described circuit andestablishing engagement between contacts 463. While this circuit isclosed, however, and before All other contacts 430 and 431 are parted,the left winding of relay 421 is also energized as described, causingtongue 426 to engage its figures contact 2.

Upon the movement of the single selected stock bar 62 into itsfulloperated position the con turn wire 5, balancing resistor 8,contact,

and tongue 44'! of unoperated relay 8 to'positive, to operate the lastsolenoid 386 just mentioned.- Y

By the operation of the mechanism as above described, it will be seenthat one stock code bar is selectively operated by the selection ofthree letter code signals corresponding to the particular stock, in theexample'above given, said code signals corresponding to B-zero-zero. Itthe stock to be quoted is designated by the charac- 2 ters USS it willbe understood that the magnets 22 corresponding tothese letters will beoperated in sequence to select the steel: bar corresponding to thisstock.

From the mechanism as described it will be apparent that the letter barsare selected in sequence and remain inproper position until three suchbars have been operated, and then the stock bar corresponding thereto isoperated to close its contacts 13 and It. The circuit energized bycontacts i3 and it serves to selectively operate the stock board dial ina manner described hereinaft er in detail.

In the example, as above given. the stock selector has been described asselecting the stock 4 for operation on the dial board to be laterdescribed. From an inspection of Figure 1, it will be seen that some ofthe contact pairs l2 have associated therewith numbers from one to zeroand blank and also fractions. The code bars 9 5 corresponding to thequotation to be made are next operated to close their contacts It tooperate a price indicating mechanism hereinafter described in detail.This price quotation operates the dials of the selected stock.

It will be recalled that the stock selector has been stopped after theshaft, 59 made one-half revolution. After the figures for the quotationhave been transmitted and recorded on the dials in a manner hereinafterdescribed in detail, a

clearance signal is transmitted over the line which closes its relatedcontacts It in the receiving selector to complete a circuit frompositive of battery 43E, conductor 432, closed clearance contacts l2,conductor 458, coil of relay ne to negative to operate tongue I64,whereupon a circuit is completed from positive, over tongue 88 and itsfront contact, over conductor 489i, the now closed upper pair ofcontacts 483, conductors 45%, and 439, clutch magnet ,ltB to trip shaft55,

'which rotates through its other half revolution in a manner similar tothat described her einbe, fore, thereby rocking elliptical ball atthrough 90 to its initial position which by so doing withdraws all stockbars $2 to their initial position, simultaneously opening any closedpair of contacts 13 and M. Cam 58 on the shaft 59 then becomes effectiveto raise latch .58, a d urged by it's spring 53, (see Fig.8) the ball 9pushes the three operated selector bars 43. to 15 the front into'theirinitial position. At the same spear/as time the bail shaft 62communicates its motion to the, bell crank I22 through, the link I28 andthe pin I34 lifts the pawls H6 and I26 out of engagement with theirrespective ratchet wheels I22 and I25, and vertical shaft I22 beingfree,

spring l0 attached to comb 26 can return the lat- I terto its initial orright hand'positio'n.

Thus it will be seen that a clearance signal immediately restores theselector to initial position for subsequent operation.

Construction of board control mechanism Mounted upon studs 2% in frontof the plate 202 is the guide plate 20? (Figs. 13 and i7) while guidedinholes in plates 282 and 2d? are eleven plunger pins. 208, one individualto eacharmature 20s. Individual compression springs 239 cm circling eachpin serve to urge pins are outwardly, and a shoulder M2 on each acts asa stop. In normal position the outward end-oi each pin 20% is in contactwith its individual armature, and the inner end is flush with the innersur= face of plate 262. A stud 293 on each magnet core 2M and anadjusting nut tih'serve to maintain. armature 20d and pins 208 in properopera tive relation.

Plate tilt ismounted upon side frame tit of the stock board control unit(Fig. 17). Suitably journaled at the top of the side frames Zit'and 2H1is shaft 21s. Clamped thereon at the outer end is index arm us, itslower extremity arranged to move in an arcuate path freely past plungerpins 208 when these are unoperated, but

'to be stopped in its arcuate motion by any one of pins .2lltwhlch isoperated by its magnet 268,

as will hereinafter appear. Also clamped to shaft MB is smear pivotallyconnected by links 223 to plunger extension 22d of solenoid 235, mountedbetween side frames tit and 2H, Plunger extension 326 is a combinationof an outer sleeve 226 (Fig. 17) and a bufier member 221 slidable withinsleeve 22,5. Sleeve 2Z6 i's'pivoted, as just mentioned, to links 323 andslidable member 227 is provided with car 828 pivoted to solenoid plungerproper 329. Cylindrical portions 232 and 833 are provided with threadedportions, the grooves formed thereby acting to hold, by threadedengagement, coiled compressprlng 23d interposed betweensaid sleeve 22%-and bufier 22?. The arrangement just described acts as followsfUponenergization of solenoid 2Z5, plunger 2% is moved rapidly down- Qwathereby stretching s ring 236, but an inst t later this spring 2 tendsto recover its normal length. By so doing it moves attached sleeve 236downward until shaft 2"! to which exacting with bifurcated end 29? ofplunger extension 292 through elongated hole therein allows plungerextension 282 to operate its associated rocker 299 without binding. Theopposite end of rocker 299 is pivotally connected at 288 to links 299which: in turn are pivoted at 252 to dashpot plunger rod 259'. Dashpot258 is supported in framework at 255 and is of a common construction,consisting of a piston fitted into the dashpot cylinder, and appropriatevalve ports through which the cushioning medium, as air, is expelled andadmitted, the function of the dashpot 259 being to regulate the durationof operation of solenoid 225.

Attached by means of a nut to dashpot plunger rod 259 is contactoperating member 259, which, as shown, has two forwardly bent lugs 257and 2E8. Pivoted-to side frame 2" at 259 is contact finger member 292.Fitted to member 282 is the stiff contact finger 293 and yieldingcontact finger 299, the former carrying contact 295 and the lattercontact 266 arranged to move into abutting engagement with theirassociated contact screws 29? and 258 carried in insulating brackets 299on side frame 2H. The contact finger 2831s v-shaped at its extremityandengages a jockey roller 299 supported on the flat gaging 239 fastened tnthe side frame 2H at Returning to a consideration of shaft 2H8 (Fig. 13)there is-clamped to its left end-gear sector 275 in mesh with a rackportion 218 on the edge of vertical flat blade or bail "2111' The latterextends from near the bottom. as shown, to the top of the board. and isguided in a suitable manner by groovedrollers 218 pivoted on studs 2Y9fixed to the framework of the board. Edge of blade '2Tllopposite rack216 is notched rectangularly at predetermined intervals throughout itsheight. Said notches 292 are in engagement with long rollers 283pivotally carried on arms 28:9, each arm 298 being clamped to theextreme right end of one of rock shafts 289 which extend the whole widthof the board. Rock shafts 295 in addition to being rotatively erable aresl dable in an axial direction. There is a rock shaft 295 common'to eachrow of dial-sets, as-.will be described hereinafter.

Referring to Figs. 13, 14, and l5 it is observed that each rock shaft285 has amxed near its right end a sleeve member 2916. Slidably engaginggroove 297 in the periphery of sleeve 286 are the two circular heads or"the arms of bifurcated member 299. Members 288 of which there are asmany as there are rock shafts 285 are affixed to vertical shaft 289,suitably journaled in the board frame. At lower end of shaft 289 arefixed two ratchetsectors 292 and 299. Tension spring 294 (Fig. 14) urgesupper sector 292 and its associated shaft 289 to its initial positionagainst adjustable stop screw 29l fixed inthe framework. Upper sector292 carries in; sulating bumper 299 which co-acts with the set ofcontacts 298 to close them when sector 292 is to the left iii-itsextreme operated position to cause return of the parts to initialposition as explained more fully hereinafter.

In operative relation with sectors 292 and 293 are ratchet pawl 291 anddetent pawl 298 (Fig. 14) respectively, the former pivoted to swingingarm 299 and the latter to fixed arm 302-. Solenoid 993 supported on theboard base plate and to the left of shaft 289 is arranged with itsplunger extension 399 pivotally connected at 385 to movable arm 299, atension spring 308 serving to retract the solenoid plunger and itsassociated arm 299 and pawl 297 to normal when the solenoid isdeenergized. Both pawls .291! and 298 are held in engagementwith theirrespective sectors 292 and 293 by means of tension springs 991 attachedto right extension 998 of the pawls 291 and 29B and to their respectivearms 299 and 392.

Situated to the right of sectors 292 and 293 is reset magnet 399suitably carried on the base. Armature 30! carries fixed pin 3|2 ,inoperative relation with extensions 998 of pawls 291 and 299 in a mannersimilar to the relation of pin E99 and pawls H8 and I26 describedpreviously in connection -;with the stock selector.

Construction of a. stock unit dial set Referring to Figures 1a, 19, 20,and 21. there is shown a set of dials for a complete price quotation andthe mechanism therefor. This set the first, high, low and lastquotations for a stock. In addition to being arranged one above theother in groupsof four dial-sets each, the vertical array of groups maybe multiplied so as to result in rows as well as columns ofgroups. Fig.22, representing a front elevation of atypical board indicates moreclearly such a desired arrangement. It will appear from what followsthat the mechanism for operating these dial-sets is extremely flex ble.and that the sets may be arranged in various desirable groups dependingupon the stock or commodity to be quoted. For example, if aboard isdesired which will show Futures in grain, cotton, rubber, etc., thedial-sets may be arranged differently, as for instance the columns ofsets may refer to fnow, opening", high, "low and close and the rows ofsets may represent months, such a type of board being common in tradingcircles. The dial-sets are complete in themselves and may be removedfrom the board easily and quickly, if it is necessary to repair orreplace a set, this feature becoming apparent in what follows.

As shown, the dial-setmechanism is carried in a frame casting comprisingfront 926 and two side portions 921 and 329. Side portions 921 and 929'terminate in inwardly turned lugs 329 'and frame, and said operatingmechanism is detachably associated with a common operating shaft,whereby any unit may be removed without interfering with ordisconnecting from the common operating shaft. v v

At the lower right comer of Figure 20 may be of which, it will berecalled, there is one common to each .row of dial-sets. Aflixed to rockshaft 285 and in a pro ressively spaced relationship to other parts of teset mechanism, as will 3 appear, is a group of four fingers 334, which,in their normal position incline rearwardly. The extremity of eachfinger 334 terminates in a narrowed extension 335, the purpose of whichis to properly engage its associated operable member.

Suitably guided in a comb 336 supported between left and right sides 321and 328 of the frame and equally spaced with respect to each other arefour push bars 331, notched at the extreme rear end, and from thereforward the lower edge is provided with a concave arcuate contour, thepurpose of which will be clear here inafter. Each push bar 331 isplvotally connected at its front extremity to guide block 338, the upperend of which is rigidly fixed to dial rack 339, the

lower end having a hole arranged to fit slidably over guide rod 3M, thelatter being rigidly carried by bar 342 supported by the sides 321 and328 of the frame casting. In addition lower end of each block 338terminates in lug 343 to which is attached one end of tension spring344, these springs passing through clearance holes in bar 332 andattaching to lugs upon comb 336. Said 40 springs 344 tend to urge theguide blocks 338 and attached racks 333 and push bars 331 rearwardly totheir initial position. Dial racks 339 are spaced near their forward endin a second comb 341 carried by'sides 321 d and 328 of the frame. Theupper edge of the rear portion of each rack 339 is cut with ratchetteeth 348, the first tooth 349 being of larger proportions so as to forma stop. The rear portion of each rack 338 terminates in lug 35f to whichis attached tension spring 352, also attached to lug 353 on itsindividual push bar 831, and intended to urge the push bars 331 in anupward direction and out of operative relation with fingers 334 withwhich they areassociated. The upper edge of the front portion of rack339 is cut with gear teeth,354 which are in mesh with pinion 355 aiiixedto each dial 356. Each pinion 355 and its rack 339 are held in operativeclose non-back-lashing relationship by' means of rollers 351 pivotallycarried on arms 358 affixed to shaft 359 journalled in side frames 321and 328. Spring arm 36! integral with arm 358 is provided with tensionspring 362 attached thereto, which serves to hold rollers 351 inengagement with the r associated racks 339,

Each dial 356 is cylindrical in form and hollow and is preferably madeof sheet aluminum or some other material having little mass and hencelittle inertia, which enables dials 358 to be op- 'erated from oneposition to another at a high rate of speed. Upon the periphery of eachcylinder appear the numerals to be displayed, of a size sufiicient to.be readable at a suitable distance from the board, 'the numerals beingspaced in appropriate fashion around the circumferential seen rock shaft285 previously referred to, and,

face of the dial. The first three dials from the left carry integersfrom 1 to.0 and a blank position, the last dial carries fractions from yto and four blank positions. As will appear later all dials are returnedto an initial, or blank position before display of a new quotation, andare stepped from initial to their new positions, so that the extrablanks on the fractions dial are immaterial.

Each group of diel-sets individual to a stock is provided with a thinflat mask member 363, large enough to cover the group and provided withrectangular apertures 384 through which the numerals on the dials aredisplayed. Mask 363 is attached to the board framework by screws (notshown) and as stated before the mask prevents the dial set units frommoving out of position on their studs 332.

' Carried by bracket 365 fixed to left side 321 of the frame is solenoid366. Its plunger 361 cooperates with arm 368 aflixed to bail shaft 369by means of connecting link 31L Bail shaft 369 is suitably journalled insides 321 and 328 of the frame and also has fixed thereto bail arms 312.

Arms 312 extend forwardly, and at their inward turned extremities carryshoulder screws 313, upon which is shiftably mounted transverse baflblade 314. The latter is made s'hiftable longitudinally with respect tobail arms 312 by means of slotted holes 315 wherethrough shoulder screws313 pass. Both bail arms 312 are provided with downwardly extending lugs316 which carry fixed transverse bail rod 311 arranged to co-act withthe four push bars 331.

Pivotally supported upon lug portions 318 on left side 321 of the frameis rocker member generally indicated 319 comprising a short verticalshaft 38l, which carries rocker arms 382 and 333 aflixed thereto andprojecting. in opposite directions as seen in Figs. 19 to 21. Lowerrocker 382 is arranged to cooperate with the hundreds finger 334 bymeans of inclined cam surface 384 engaging extension 335 of finger 334.,Upper rocker 383 is arranged to engage the left end of bail blade 314,only when this member is in its downward position as will be described.Adiustable backstop screw 385 and tension spring 386 serve to maintainrocker member 319 in its normal position, as shown.

Plvotally carried on transverse bar 381 fixed to sides 321 and 328 ofthe frame are four detent pawls 388. Rear arm 39l of each pawl 388 isarranged to be engaged by bail blade 314, when the latter is rockedcounter-clockwise by magnet 386, as viewed in Fig. 20. Ball blade 314 isnotched rectangularlyat four points 389 (Fig. 18) in its lower edge andin such locations that when bail blade 314 is in its left position (Fig.18) it may engage its associated feed pawls 388 by counter-clockwisemovement about its pivot 363, but when shifted to the right, feed pawlarms 39! are allowed to; enter notches 389 wherein they have enough roomin which to oscillatewhen impelled by the teeth 348 of racks 339 incooporation with their springs 393, and whereby they alsoprevnt thereturn of bail blade 314. The front arm of each pawl 388 terminates indetent tooth- 392 adapted to cooperate with teeth 348 of its dial. rank339. Tension springs 393 attached to tnes rmg plate mounted'on bar 381and to arm 391o1Lp'awls 388 urge the pawli in a. counter-clockwise senseinto engagement with teeth 343. Inasmuch as all of the membersassociated with-a dial-set do little work and have small workingpressures they may be very light General operation of thesystenfz andapparatus Before describing the general operation of the system indetail a short account of the preliminary condition and of the method ofsynchronizing the sending and receiving stations .be given The quotationboard system and apparatus disclosed herein usually operates on what isterfned afixed cycle for the stock symbol portion of the quotation. Thatis, three letters, or the equivalent in the form of'one letter plus two.substitute zeros" or two letters'plus one substitute zero, must betransmitted for each indi'vidual quotation. The exception to this iswhen a fpreferred stock is to be quoted, in which case a fourthcharacter PF precedes the other three letters of the stock symbol. Inorder to accommoda this symbol of extra length there is provided eans inthe system whereby a four letter symbol having PE fpr its flrstcharacterdoes not become effective to step the stock selecting mechanism as doesthe usual three letter symbol,

as will hereinafter appear.

- 'In addition this system always operates on a fixed cycle for theprice portion of a quotation, that is to say, four characters or digitsmust always be sent for a price; namely, a "hundreds, a tens", a units,and a fractions digit. Should it not be desirable or necessary to quotea numeral in the hundreds", tens" or units positionsla blank signalwould be sent as a substitute therefor in order to make-the full fourcharacter price quotation.

The complete quotation message may comprise, in addition to the three(or four) letter stock symbol and the four element price, an indexcharacter to control devices which determine whether the incoming priceis to be quoted as "Todays open or first, Today's high" or Today's low.This additional index character is transmitted after the stock symboland preceding. the price, and is preferably included in the message onlywhen the quotation is not to be a current or last price, This additionalindex character is ineffective to step the price indicating device as dothe received numerals, but is directly effective. to set up a specificcontrol condition present only when the index is included and omittedwhen the quotation is to. be a last".

As will be later disclosed the completion of the stock or item selectionat the receiving station automatically switches the receiving selectorover to control the price indicating mechanism, and on the completionofthe price indication the receiving selector is switched over tocontrol the stock selector upon receipt of a clearance signal. These twoswitching functions correspond respectively to the figures and lettersshift conditions of the apparatus, and the various devices must be inthis interconnected relationship at the-proper times during thereception of the message.

ffmessages of fixed length for all stations, in order 7o;

fp'oper segue ce and unison thei'eby maintained that the various,devices may ,operate in the hroughout the system Should one or morereceiving s'tations'fali' out of step due to some meh'air iical orelectrical trouble, a wrong quotation may be posted or a wrong stock maybe selected dosages but the error will affect only one'quotation. Inaddition there may be some fault at the transmitting station, either inthe apparatus or an error on the operator's part in failing to fill outthe symbol and price portions of the message to the requisite length.

" It is' necessarythat a day's business be begun by the transmissionof'a letter shift" or a clear- 432, a pair of contacts IZL, conductorM5, right coil of double (3011 relay til, resistor its to negatlve ofbattery. The tongue 426 of the relay 321 is thereupon moved to the rightor letters" position. The purpose of the switching of the tongue .1126totthis position is to remove the price indicating apparatus from thecontrol of the receiving selector and to bring the stock selector undercontrol of thereceiving selector.

, Upon reception of the figure shift signal, a

U similar switching function occurs and the tongue 426 is moved to theleft or figures position, thus transferring the control of the receivingselector from the stock selector to the'price indicating mechanism. Thecircuit is similar to that just traced for the letter shift", and isobvious from an examination of Figure l. A fiat spring carrying detentroller 429 maintains the tongue Q26 in I either its right or leftposition when it is once operated thereto. g

It will be assumed, for purposes of explanation, that the stockdesignated by symbol B is being quoted for aijlast of 45 followed by ahigh" quotation of 175% for stock BB."

As hereinbefore stated the code combinations of impulses received fromthe dispatching station control a modified Kleinschmidt printer whichacts to close pairs of contacts l2 one pair for each character code.

The letter B is first transmitted and received to close its contacts,i2. Current then flows from positive of battery 338, over commonconductor 332, contact pair i2, a conductor $33 through selector magnetB in the stock selector. Magnet 13 is one of the series of selectingmagnets 22 of Figs. 2 and 8. -Current then passes over common conductor636, to operate both magnet B and relay 628 since negative has beenalready applied to this relay $28 by engagement of armature $28 with itsL or letters contact. The stock selector mechanism operates aspreviously described lndetail, the feelers 25 push-' ing three letter.bars- 33 forward and one stock bar 82 being then positloned to closeits contacts l3 and it. If the stoclsto be selected has but one or twoletters, zero signals are received for the remaining of three signalintervals which signals correspondingly set the zero selector bars t3.For a better understanding of the zero bar function, it might well beconsidered as an additional or twenty-seventh character bar, since itseffect is similar to that of an increase in alphabetical characters. Aspreviously pointed out, the last movement of comb 26 of the stockselector closes contacts 35 and 36 to energize clutch trip magnet I63 toallow release of all stock bars, closing contacts 13 and 14 of theselected bar. After onehalf revolution, shaft 59 of the stock selectoris stopped, with selected contacts 13'and 14 closed thus energizing onestock solenoid 366. Thereupon (Figs. 18 to 21) plunger 361 is drawnwithin operated solenoid 366 and rocks its bail blade 314 in a,counter-clockwise sense, by way of link 311, arm 368, bail shaft 369,and ball arms 312. Notches 389 in the lower edge of operated bail blade314 are not over detent pawl extension 391 and therefore the unnotchedportion of blade 314 becomes effective to rock detent pawls 388clockwise to lift each tooth 392 from the notch 348 with which it hadbeen previously engaged. Rack bars 339 now freely return to theirinitial position to the right of Figures 19 and 20 due to the action ofsprings 344, the racks 339 being stopped by the engagement of high tooth349 with pawl tooth 392. In thus returning, racks 354 engaging theirpinions 355 restore dials 356 of the selected group to initial or blankposition.

The dials of the selected stock having thus been returned to blank for anew quotation, the op erating mechanism for these dials, must beassociated with the figure operating or quotation mechanism foroperation by signals to be now received, the remaining groups of dialsbeing disassociated from this operating mechanism.

When the bail shaft'311 was oscillated counterclockwise as viewedinFigure 20, the push bars 331 associated therewith were pushed downwardlyagainst tension of their springs 362 to position the ends of these pushrods in the path of the fingers 334 in order that the dials of theselected stock may be operated. Since only one selected magnet 366 hasbeen operated by the stock selector, as hereinbefore described, only onebail shaft 311 has oscillated and therefore only one set of push bars331 have been depressed, all other push bars of the other stocksremaining in upward position out of the path of movement of theoscillating fingers 334.

In order to set up the quotation 45 the transmitting signals must becomprised of a blank, followed by 45 this being a fixed cycle system sofar as the figures of the quotation are concerned, and four numerals orequivalents n ust be sent for each price quotation.

There are eleven selector magnets 261 corresponding to blank and 1, 2,3. 0, and to /8, A and there are eleven wires 446 connecting each magnet26! to wires 433 of corresponding selecting magnets 22 for "blank and 1,2, 3, 0. The reception of blank closes the respective contacts on thereceiving selector and a circuit is completed from positive of battery431, common wire 432, closed pair of blank contacts 12, common conductor433, wire 446, selector magnet 26!, common conductor 449, coil of relay45B, conductor 452, to negative by way of tongue 426. Current cannotpass over common conductor 434 of magnet 22 since armature 426 is now inthe "F or figures position and this circuit is therefore open.Energization of theblank magnet 26l operates its armature 264 topushjassociated plunger pin 268 beyond plate 262. Upon energization of.relay 451 its armature 453 is operated to complete} circuit frompositive over tongue 453', closed contacts 454, conductor 455, uppor ornormally closed pair of con- -tacts" 261 and 265,. coil of solenoid 225,to negative. Solenoid .225 operates to pull its plunger inwardly,,and sorock shaft 2I8 to which it is 19), the dial sets being arranged inhorizontal rows as in Fig. 22, one rock shaft being provided for eachsuch horizontal row, as indicated in Fig. 22. The normal axial positionof the rock shafts 285 (as distinguished from their angular position) isas indicated in Fig. 19 which is their extreme upper limit of movementwherein the hundreds dial mechanism is in operative alignment. When inthis position, shaft 285 is rotated, hundreds finger 334 engages bevelsurface 384 of arm 382,-thrusting bail blade 314 downwardly and againstthe action of its spring 386. This last action allows notches 389 inblade 314 to move into alignment with extensions 391 of the four. detentpawls 388 and the latter are thereby free to rotate in acounter-clockwise sense aided by their springs 393 to re-engage pawltooth 392 with the foremost of teeth 348 of rack bars 339. When fingers334 oscillate as just described, all cam arms 382 are moved to thusreciprocate all bail blades 314. However, only one set of feed pawls 388move when the notches in blade 314 align therewith, because but onemagnet 366 is energized forcing its bail blade 314 against the tail endsof its latch pawls 388. Simultaneously, finger extension 335 of arm 334is in operative relation with the notched extremity of the"hundreds'push bar such as 331 of the operated dial set, but theblocking of index arm 219 by "blank pin does not allow finger 334 tomove the push bar at all and the hundredsdial remains unmoved andindicates blank-in the aperture 364 in front mask 363.

When solenoid 225 was operated, lower contact operating member extension258 engaged contact member 262 to tilt arm 262 about pivot 259 to openupper contacts 265 and 261 and to close lower contacts 266 and 268,jockey roller 212 serving to maintain the last position of saidcontacts. Closing of contacts 266 and 268 (see Figure 1) completes acircuit from positive battery over said contacts, conductor 456,solenoid 363 to negative to operate plunger extension 364. This movementof plunger extension 364 becomes effective to feed ratchet sector 292one tooth space, and shaft 289 an equivalent amount through the mediumof feed pawl 291, detent pawl 298 retaining ratchet sector 293 and shaft289 in its new position. The stepping of shaft 289 the equivalent of onetooth space is effective in axially shifting all the slidoble rockshafts 285 far enough to carry the first or left finger 334 away fromoperative relation with its associated push bar 331 and to carry thesecond finger 334 into operative relation with its associated

